One thing I find notable about S3 today is that, while it used to drop in price reasonably often, there hasn't been a price drop in a full decade:
2006-03-14 $0.150/GB-month
2010-11-01 $0.140/GB-month
2012-02-01 $0.125/GB-month
2012-12-01 $0.095/GB-month
2014-02-01 $0.085/GB-month
2014-04-01 $0.030/GB-month
2016-12-01 $0.023/GB-month
Today it's still $0.023/GB-month.That's true for the base S3 product, but there are a lot more storage tiers than there used to be with cheaper pricing. All the way to $0.99/TB for Deep Archive.
Egress pricing of $0.09/GB has been around for over a decade too.
For reference transit cost has dropped over the years and is now about at $0.000247/GB or free if there is a peering agreement with the network the data is sent to.
I guess inflation is the price reduction we get. 23 cents in 2016 is 32 cents in 2026